Under the agreement BGC will manage Broker Services connection to SWIFTNet, including infrastructure operation and maintenance.
The SWIFTNet messaging platform gives banks and other financial institutions whole new opportunities for effective financial communication.
BGC offers its customers a SWIFTNet Service Bureau package in which the participants share the cost of operation, development and administration. Economies of scale result in lower costs for the participants, who avoid having to invest their own resources in infrastructure maintenance and in-house expertise.
”BGC has functioned as a hub for payment transactions on behalf of the Swedish banks since 1959,” says Mats Wallén, Business Developer BGC. With our SWIFTNet service we are able to meet rising customer demands on fast and secure transactions and simple connection to multiple counterparties, a necessity in today’s internationalized financial markets.”
SWIFTNet (Society for Worldwide Interbank Financial Telecommunication) was founded in 1973 by 239 banks from 15 different countries as a co-owned service provider for the financial industry. Today SWIFT supplies transfer services and software interfaces for financial transactions to around 8 800 financial institutions in 209 countries. 3.8 billion financial messages were exchanged worldwide in SWIFT system during 2008.
About BGC
Bankgirocentralen BGC AB is the leading provider of payment solutions and operating services for e-ID and e-invoice to banks in Sweden. Bankgirot is the only giro system in Sweden that handles all types of payments, regardless of bank. BGC processes bankgiro transactions totalling SEK 25-50 billion daily. BGC is owned by SEB, Swedbank, Handelsbanken, Nordea, Danske Bank, SkandiaBanken, Kaupthing Bank Sverige and Länsförsäkringar Bank. For more information, visit
www.bgc.se